Mr. John Burzynski reports

OBAN COMPLETES ACQUISITION OF SOUART PROPERTY NEAR WINDFALL LAKE

Oban Mining Corp. has completed the previously announced acquisition of 100 per cent of the Souart property in the Urban Barry greenstone belt, in Souart and Barry townships, Quebec. The Souart property is located approximately 90 kilometres east of Lebel sur Quevillon, 14 kilometres southwest of, and along the same geological trend as, Oban's Windfall Lake project.

The acquisition was completed pursuant to the terms of a property purchase agreement dated Feb. 11, 2016, between the company and Multi-Ressources Boreal. Pursuant to the agreement, M-R Boreal received consideration of 500,000 common shares of Oban and a cash payment of $200,000 in exchange for 100-per-cent ownership of the 33 claims (totalling 1,286.34 hectares) that comprise the Souart property. M-R Boreal maintains a 2-per-cent net smelter return royalty over the Souart property, which can be repurchased by Oban at any time for $2-million.

"I am delighted that the Souart project is now in the hands of Oban. Oban has three major assets to strengthen the future development of this project: their outstanding management team, their significant financial resources and a quality project portfolio," said Frank Guillemette, president of M-R Boreal. "I also want to thank the Oban team for their professionalism all along the proceedings which led to the conclusion of this transaction." M-R Boreal provides services to mineral exploration companies and develops and trades mineral exploration properties.